Okay, I found the scene. I found the whole movie online, and then used a transcript to figure out where it was in the movie.
My verdict? She is flirting with him hardcore. The bracelet idea doesn’t make sense in that context. She is trying to make him think about where such a thing might slip down from.
It is all innuendo and not absurd humor–the anklet is just an anklet. She’s just flirting.
The only thing that seems like absurd humor in the exchange is a reference to tomorrow being Arbor Day and the lady needing her rest. But, in this context, I think it’s probably a joke about wood.
Sorry DH.